Analyst Research

Report Title Price
Provider: ValuEngine, Inc.
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Validea
$12.00
Provider: Ford Investor Services, Inc.
$12.00

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Vale Prices Offer to Sell Norsk Hydro ASA's Shares


Tuesday, 12 Nov 2013 02:03am EST 

Norsk Hydro ASA announced that Vale S.A. (Vale) has placed 407,122,241 ordinary shares of Norsk, held through its wholly-owned subsidiary Vale International Holdings GmbH, at a price of NOK 25.00 per share, resulting in gross cash proceeds of NOK 10,178 million, equivalent to USD 1,656 million. Assuming the over-allotment option of 40,712,224 shares granted by Vale is exercised in full, gross proceeds will increase to NOK 11,196 million, equivalent to approximately USD 1,822 million. After the completion of the transaction, assuming no exercise of the over-allotment option, Vale will hold, through its wholly-owned subsidiary, 40,712,224 shares in Hydro, representing approximately 2.0% of Hydro's share capital and voting rights and thus reduce its shareholding in Hydro below the 5% threshold set out in the Norwegian Securities Trading Act, Section 4-2. If the over-allotment option is exercised in full, Vale will not hold any shares in Hydro. 

Company Quote

41.35
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26 Nov 2014